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Economy of West Bengal information


Economy of West Bengal
Kolkata, the financial centre and commercial centre of West Bengal as well as Eastern India
CurrencyIndian Rupee (INR, ₹)
Fiscal year
1 April – 31 March
Country group
  • Developing/emerging[1]
  • Lower-middle income economy[2]
Statistics
PopulationIncrease 91,347,736 (2011 census)
GDPIncrease18.8 lakh crore (US$240 billion) (2024-25 est.)[3]
GDP rank6th
GDP growth
11.5% (2022-2023)[4]
GDP per capita
Increase 141,373 (US$1,800) (2022-2023)[5]
GDP per capita rank
  • 21st
GDP by sector
Agriculture: 23%
Industry: 20%
Services: 57%
(2022–23)[4]
Population below poverty line
Positive decrease8.60% 15th in poverty (2022-23)[6]
Human Development Index
Increase 0.656 (2022)[citation needed]
Unemployment3.9% (2018-19)[7]
Main industries
Coal • steel • manufacturing • leather • IT • food processing • Textiles
Public finances
Government debt
34.23% of GSDP (2023–24 est.)[7]
Budget balance
−65,839 crore (US$−8.2 billion) (3.8% of GSDP) (2023–24 est.)[4]
Revenues2.13 lakh crore (US$27 billion) (2023–24 est.)[4]
Expenses2.79 lakh crore (US$35 billion) (2023–24 est.)[4]

All values, unless otherwise stated, are in US dollars.

The economy of West Bengal is a mixed middle-income developing social market economy and the largest Eastern Indian economy with a substantial public sector. It is the India's sixth-largest economy by nominal GDP.

West Bengal is the primary business and financial hub of Eastern India. The state primarily dependent on agriculture and medium-sized industry. West Bengal have Jute industry, Tea industry. West Bengal is rich in minerals like coal.

Since the independence of India, The Green Revolution bypassed the state. However, there has been a significant spurt in food production since the 1980s.[8]

  1. ^ "World Economic and Financial Surveys World Economic Outlook Database—WEO Groups and Aggregates Information April 2020". IMF.org. International Monetary Fund. Retrieved 2 September 2020.
  2. ^ "World Bank Country and Lending Groups". World Bank. Retrieved 29 September 2019.
  3. ^ "West Bengal Budget Analysis 2024-25". Retrieved 25 February 2024.
  4. ^ a b c d e "West Bengal Budget Analysis 2022-23". PRS Legislative Research. 11 March 2022. Retrieved 13 July 2023.
  5. ^ "STATE-WISE DATA ON PER CAPITA INCOME". www.pib.gov.in. Delhi: PIB Delhi. 24 July 2023. Retrieved 12 September 2023.
  6. ^ "MULTIDIMENSIONAL POVERTY IN INDIA SINCE 2005-06" (PDF). Niti Aayog. 1 January 2024.
  7. ^ a b "West Bengal Budget Analysis 2021-22". PRS Legislative Research. 13 July 2021. Retrieved 26 July 2021.
  8. ^ West Bengal Human Development Report 2004. Development and Planning Department, Government of West Bengal. May 2004. ISBN 81-7955-030-3. Retrieved 11 July 2021.

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